Budget airline easyJet has agreed to a £5.7 billion cash acquisition by US private equity firm Apollo Global Management.
Key facts
- •The takeover bid is valued at £5.7 billion, or €6.6 billion.
- •The offer price is £7.15 per share in cash.
- •The deal is expected to close by the end of the first quarter of 2027.
- •Apollo Global Management's stake will be capped at 49.9% to meet regulatory requirements.
- •EasyJet was founded in 1995 by Stelios Haji-Ioannou.
Budget carrier easyJet announced on Thursday that it has formally accepted a £5.7 billion (€6.6 billion) takeover bid from the US private equity firm Apollo Global Management. The boards of both companies have reached an agreement on the terms of a recommended cash acquisition. The deal follows the withdrawal of a rival bid from Castlelake.
By the numbers
Terms of the acquisition
The acquisition offer is valued at £7.15, or approximately €8.35, per share in cash. The transaction is expected to be completed by the end of the first quarter of 2027.
Ownership structure and company history
Under the agreement, founder Stelios Haji-Ioannou and his family will retain an equity stake in a new holding company. Apollo Global Management's shareholding will be capped at 49.9% to comply with UK and European airline ownership regulations, with an EU Trust holding up to 5%. Founded in 1995, easyJet is headquartered at London Luton airport and currently operates a fleet of over 300 aircraft.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by Euronews Business.
